S&P Puts GE Units On Watch
NU Online News Service, Dec. 21, 12:22 p.m. EST? Standard & Poor's Ratings Services said it has placed several ratings for GE insurance units on "CreditWatch" with negative implications, citing concerns about the group's continuing reserve strengthening for past accident years.[@@]
The rating agency's decision will affect "A-plus" counterparty credit and financial strength ratings on Employers Reinsurance Corp. (ERC) and the "A-minus" counterparty credit rating on GE Insurance Solutions Corp., as well as various ratings on several of their affiliates.
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